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Arab Spring pushes reinsurance costs up 400pcThe cost of reinsurance has spiralled across the region by some 400 per cent since the advent of the Arab Spring and that is having a major impact on the insurance industry. That will be one of the key issues to be discussed at a More… |
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Gulf Air cuts overall losses by 50pc in Q1Gulf Air, the national carrier of Bahrain, reduced its overall losses by approximately 50 per cent in the first quarter of 2013 compared to the same period last year, realised principally through a 21 per cent fall in year-on-year expenditure. More… |
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$6.9bn profit for StanChart; warns on costsStandard Chartered notched up a tenth successive rise in annual profit with a 1 percent gain that was capped by the bank's big fine for breaking US sanctions on Iran and rising regulatory costs. More… |
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Green energies becoming ‘least cost option’Dramatic recent and projected falls in the costs of renewable energy are making it competitive with fossil fuels in countries across the world, and the least cost option in a growing number of markets, a report said. The falling c More… |
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Gulf Air announces new growth strategyBahrain's flag carrier Gulf Air on Tuesday announced an accelerated strategy and a restructuring programme for transforming it into a more dynamic and efficient national carrier through key steps including boosting of Mena operations and poi More… |
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Bahrain-Qatar causeway faces major delayEscalating costs are expected to delay completion of the BD1.1 billion ($2.9 billion) Friendship Causeway linking Bahrain and Qatar, said a report. The project, believed to be the world's longest man-made bridge, was originall More… |
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Batelco plans restructuring to cut costsBahrain's leading telecom services operator Batelco is to begin implementing a restructuring exercise in January in efforts to reduce costs and streamline operations, it was revealed yesterday. Batelco Group chief executive Sh More… |
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Job axe falls on ME investment bankersBig US and European banks are cutting investment banking jobs in the Middle East as the promise of emerging markets is overshadowed by a need to slash costs and a dearth of deal activity. Institutions including Deutsche Bank, Cred More… |
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Kuwait inflation drops to two-year low in MayKuwait's annual inflation rate eased to a 25-month low of 2.8 per cent in May and prices edged down slightly from the previous month, mainly because of cheaper food, state news agency Kuna reported on Wednesday. Inflation in the major oil More… |
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HSBC cuts cost by $2bn in turnaround planHSBC, Europe's biggest bank, said it has made sustainable cost savings of $2 billion after one year of a three year turnaround plan, and is on target to meet its return on equity and other financial targets. More… |
